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Life insurance and annuity Exam Practice Questions and Answers
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Life insurance and annuity Exam Practice Questions and Answers Adverse selection is characterized by: - Answer️️ -A sick person purchasing health insurance All the following policies and contracts are typically covered by state insurance guaranty associations. - Answer️️ -A term life i...

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Document information

  • September 1, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance and annuity exam practice questions

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  • Life insurance
  • Life insurance

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SophiaBennett

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©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

, Life insurance and annuity Exam
Practice Questions and Answers


Adverse selection is characterized by: - Answer✔️✔️-A sick person purchasing health

insurance

All the following policies and contracts are typically covered by state insurance guaranty

associations. - Answer✔️✔️-A term life insurance policy issued by a stock insurer, an

individually-owned annuity, a whole life insurance policy issued by a mutual insurer.

All of the following acts are considered unfair trade practices. - Answer✔️✔️-Rebating,

misrepresentation, coercion (replacement is not)

An insured, submits a claim and proof of loss for medical expenses covered by his

major medical policy. According to the time of payment claims provision, how soon must

the company pay the claim? - Answer✔️✔️-Immediately

All of the following, if performed frequently enough to indicate a general business

practice, are unfair claims settlement practices. - Answer✔️✔️-Making claim payments

not accompanied by a statement setting forth the coverage under which payments are

made, refusing to pay claims without conducting a reasonable investigation based on all

available information, attempting to settle claims on the basis of an application that was

altered without the insured consent.




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